Wilmington and Burgaw Area Real Estate News

Location can play a substantial part in determining whether a house sells fast or remains on the market. But in economic times such as these, location is no longer quite as important as price. Quite simply, consumers are much more concerned with their ability to afford a home.

The houses that tend to get noticed the most are the ones that have only just been placed on the market. It's not unusual for agents to pull out all the stops when it comes to marketing the home, including the use of email advertising and marketing and possibly open houses. Many MLS boards also reserve the special status of "newly listed" for new listings. But sooner or later, the freshness of the listing will wear off along with the attention. As the home spends more time on the market potential buyers may feel justified in making a low-ball offer. Waiting for what looks like an eternity can be a very deflating experience for a seller. Plans to move into a new home may have to be postponed. Many sellers may accept a weak offer simply because the situation has dragged out for too long.

Pricing a home to sell is the best way of making sure that you never fall into the same circumstances. But many sellers do the exact opposite. Rather, they price their homes based on emotions and desires rather than market info. Look around your neighborhood for recently sold homes. Check to see which ones are comparable to yours in terms of size, amenities, age, etc. This will give you an idea of what your own home might be worth. If there is a preponderance of homes on the market in your area then you may have to have a competitive price to attract attention.

Anyone planning to sell his or her home should get an appraisal done by a licensed appraiser. While real estate agents can perform a comparative market analysis this is not the same thing as an appraisal due to the fact that agents aren't trained nearly as extensively as real estate appraisers. In contrast, an appraiser is knowledgeable in all aspects of property valuation techniques and standards. While the appraisal may not conform to your expectations about what your home is worth, it will nevertheless provide you with an objective and educated opinion.

In the end, only the free market can decide a house’s value. Your home is special to you because you have so many memories there. But to a buyer it is just another home on the list. Pricing your home to sell is a good way of making your home stand out from the competition.

I give FREE home valuations.  If you need any help determining the price of your home, just let me know!

Tammy Barnes -Realtor - Burgaw, NC Real Estate - Wilmington, NC Area

Search for homes and land in the Wilmington, NC, metro area, including Leland, Hampstead, Burgaw, Ogden, Castle Hayne, Carolina Beach, Kure Beach, and Wrightsville Beach. You will also find information on the buying and selling real estate process, including preparing your home for sale and qualifying for home loans.